“Salary increase demand must be managed in responsible manner”

State Minister of Finance Shehan Semasinghe said that they have seen a series of recent protests seeking increases in public sector wages.

“However, such increases have significant fiscal consequences. Unlike in the past we can no longer afford to increase public sector wages and borrow the funds to meet the resulting deficit in the budget.

Therefore, any increase in spending must be met by increases in taxes in order to maintain the budget balance and such increases must be managed in a gradual, responsible manner, so as to not disrupt the hard won gains in economic stabilisation.

At the Ceylon Chamber Import Section AGM, Singer Sri Lanka PLC Director, Commercial Thulitha Mendis was elected as the Chairman.

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